Annual Trade Exchange among COMESA Countries Stands at 68 Billion USD

Addis Ababa, February 10(ENA)-- Member countries of the Common Market for Eastern and Southern Africa (COMESA) have an approximate annual trade exchange of 68 billion US dollar , State Minister of Finance and Economic Development (MOFED) said.

Getachew Gebre said a substantial portion of the stated sum was generated through public procurment involving substantial contract for private sector vendors.

Getachew was speaking here on Monday at the opening of the second stakeholders forum COMESA Public Procurment Reform Project.

According to the State Minister, public procurment requires high level of interaction between vendors and public officials.

Ethiopia is desirous to see COMESA member countries to agree on legal and policy framework and principles of a modern set of public procurment laws, rules and regulations,Getachew has said.

He said the country remained committed to address weakness and shortcomings of the procurment systems currently facing the COMESA region, Getachew said.

Secretary- general of COMESA, Erastus J. O Mwencha said the major objective of the project was to address weaknesses such as those, which characterise public procurment in COMESA.

He said the weaknesses identified in previous studies included deficiencies in procurment practices,weak institutional capacities to develop and implement public procurment policies and discriminatory practices among COMESA member states.

The stakeholders forum organized by COMESA and African Development Bank was expected to come up with a draft policy of public procurment and would be submitted to the ministerial meeting due to be held in Khartoum, Sudan in March 2003.

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